If the association needs to replace the roofing or resurface the parking lots, or build a new road or water system, they will need money to cover the costs. If they don’t have the money in their reserve accounts, they will either have to assess every owner for a portion of the costs or they will have to borrow the money and raise association fees for owners to cover the loan payments. If they are going to assess you $1,000 in excess of normal association fees, you need to take this into account. And if they raise association fees above the norm, you may have a difficult time selling when you want to. When you buy a town home or condo, you are essentially becoming a shareholder in a corporation and assuming part of the assets and liabilities of that corporation. You need to assure yourself that the corporation is solvent before you close on your property.